Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Close with Modest Losses but Miners Gain on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 24 2017
By: Ira Epstein

Life Under Manipulation
By: Theodore Butler

Legendary investor names his top junior resource stock picks right now
By: Peter Spina, President, CEO of GoldSeek.com & SilverSeek.com

Silver Miners’ Q3’17 Fundamentals
By: Adam Hamilton, CPA

Deflation must be embraced
By: Alasdair Macleod

Gold’s 47-Year Bull Market
By: Steven Saville

Taxes, Macro Signals, Seasonality, US Stocks and Gold Miners
By: Gary Tanashian

The Key to Profitably Ending Precious Metals Price Suppression And Other Markets Manipulation!
By: Deepcaster

The Precious Metals Bears' Fear of Fridays
By: Dimitri Speck

 
Search

GoldSeek Web

 
What if central banks have NOT lost control of gold?

By: Chris Powell, GATA

 -- Published: Monday, 2 May 2016 | Print  | Disqus 

Dear Friend of GATA and Gold:

Has the positioning of the big commercial traders in the monetary metals futures markets lost its value as an indicator of future monetary metals prices?

It seems like gold and silver bugs and maybe a few ordinary investors have been waiting for weeks for the usual smashing of the metals by those traders, the big investment banks, hoping to buy the next dip, only to have to watch the metals and the mining shares move steadily higher.

Among the market analysts whose prediction of a smash has gotten stale and who seems to be doubting himself is Clive Maund, whose latest commentary notes that it's a "paradoxical situation." His commentary is posted at GoldSeek here --

http://news.goldseek.com/CliveMaund/1462129992.php

-- and at 24hGold here:

http://www.24hgold.com/english/news-gold-silver-gold-market-update--para...

Meanwhile in other commentary at GoldSeek, market analyst Dan Norcini, while not yet so alarmed about the commercial short position in gold, chides "gold cult members who seem to not understand that when they are cheering predictions of $5,000 or even $50,000 gold they are cheering the ruin of everything around them":

http://news.goldseek.com/DanNorcini/1462129200.php

Count your secretary/treasurer among those who have been expecting the commitment of traders signal to be validated again for the thousandth time. But insofar as it is not validated and the monetary metals continue to rise, your secretary/treasurer can envision two possible explanations and offers them here with the justification of a slow-news Sunday night and the expertise of a high school graduate.

That is, either central banks, the biggest participants in the gold market, have lost control of it, the physical gold part of the market is overthrowing the paper gold part of the market, and the market is in the midst of the fabled "commercial signal failure."

Or else central banks have not lost control of the gold market, and the gold price continues to go exactly where they want it to go.

That would mean that the consensus policy of central banks in regard to gold has changed recently -- that they now want gold rising again, most likely to assist in the devaluation of their currencies, particularly now the U.S. dollar, as well as devaluation of the world's debt, and that the huge short positions of the banks in the futures markets are actually central bank positions that must continue to increase even to unprecedented levels to keep this devaluation "orderly," to use a favorite term of central banking. (Really, who else but institutions that are authorized to create infinite money and that hold large gold reserves could accept the risk of such shorting?)

This would mean that central banks disagree with Norcini. It would mean that far from considering a sharply higher gold price to be the end of the world, central banks consider a sharply higher gold price -- at least if it can be accomplished in an "orderly" way -- the prerequisite of worldwide debt relief, their own reliquefication, and the maintenance of their power, gold remaining, as the assistant undersecretary of state for economic and business affairs, Thomas O. Enders, explained to Secretary of State Henry Kissinger in April 1974, the supreme "reserve-creating instrument" of governments, the ultimate money, the form of money that underwrites all other forms of money, the form of money whose valuation is control of the world:

http://www.gata.org/node/13310

Your secretary/treasurer is far from the first to have such suspicions. They were expressed in detail four years ago by the American economists and fund managers Paul Brodsky and Lee Quaintance --

http://www.gata.org/node/11373

-- and have been expressed increasingly by others lately, including, perhaps most notably, by fund manager and author James G. Rickards.

Since the world belongs to central banks and the rest of us occupy it only at their sufferance, they don't volunteer what they are doing with our planet. Their policies and actions can be discerned only through careful observation, investigation, and research, like tedious searching of government archives that have not been fully redacted, leading to the compiling of documentation summarized by GATA here --

http://www.gata.org/node/14839

-- and here --

http://www.gata.org/node/16377

-- and even this research does not give much help as to the timing of policy.

So Maund, Norcini, and even your secretary/treasurer may be forgiven for not knowing certain things or not giving them their proper weight. The problem with Maund, Norcini, and others like them is only that, clinging desperately to their narrow craft, "technical analysis," refusing to entertain the possibility that what they are analyzing are not really markets at all but the tools of higher powers, they seem not to want to know.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16


| Digg This Article
 -- Published: Monday, 2 May 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.